TheStreet Upgrades BP Prudhoe Bay Royalty Trust (BPT) to “Hold”

BP Prudhoe Bay Royalty Trust (NYSE:BPT) was upgraded by stock analysts at TheStreet from a “sell” rating to a “hold” rating in a report issued on Monday.

Shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT) traded down 0.23% during mid-day trading on Monday, reaching $21.30. The company’s stock had a trading volume of 411,151 shares. The company has a market capitalization of $455.80 million, a price-to-earnings ratio of 7.48 and a beta of 0.06. BP Prudhoe Bay Royalty Trust has a 1-year low of $11.29 and a 1-year high of $45.60. The company’s 50 day moving average price is $18.06 and its 200-day moving average price is $16.18.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Sunday, October 16th will be issued a $0.6793 dividend. This represents a $2.72 annualized dividend and a dividend yield of 12.76%. The ex-dividend date is Wednesday, October 12th. BP Prudhoe Bay Royalty Trust’s payout ratio is currently 96.48%.

About BP Prudhoe Bay Royalty Trust

BP Prudhoe Bay Royalty Trust is a grantor trust. The property of the Trust consists of an overriding royalty interest, and cash and cash equivalents held by the Trustee from time to time. The Royalty Interest entitles the Trust to a royalty on approximately 16.42% of the lesser of first approximately 90,000 barrels of the average actual daily net production of crude oil and condensate per quarter from the working interest of BP Alaska, in the Prudhoe Bay oil field located on the North Slope in Alaska or the average actual daily net production of crude oil and condensate per quarter from that working interest.